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My guess is that a LOT of the Bitcoin owners today are early adopters that own very little BTC as a novelty and/or with the idea that "Hey, who knows. Maybe my
by SODaniel 14y ago
My guess is that a LOT of the Bitcoin owners today are early adopters that own very little BTC as a novelty and/or with the idea that "Hey, who knows. Maybe my 4 BTC will be worth $1000s in a few years".
This makes for a super volatile market. Especially coupled with the new Mining ASIC rigs coming to market, small volume trading etc.
I would suspect that it will take a LONG time before we see if/how the 'currency' will actually stabilize.
One must remember, less than 5 years ago, BTC were selling for $0.001! Today it topped out at around $50.
- tibbon 14y agothat's pretty much what I'm doing. I bought 3 on the chance that they pop up at some point. I'm not fully convinced of their stability, and I'm not going to drop thousands into it until I feel better about it- just don't have the funds or risk appetite for that much outlay.
- SODaniel 14y agoYep. I am pretty much acting the same way. I have a few BTC that I got years ago and a small ASIC mining rig ordered just 'For teh lulz'.